Here is the situation with homestead. If you make it your primary home, this would almost cover all your taxable liability.
Homestead, Up To $50,000
Every person who owns and resides on real property in Florida on January 1 and makes the property his or her permanent residence is eligible to receive a homestead exemption up to $50,000. The first $25,000 applies to all property taxes, including school district taxes. The additional exemption up to $25,000, applies to the assessed value between $50,000 and $75,000 and only to non-school taxes.
The application for homestead exemption (Form DR-501) and other property tax forms are posted on our form page and on most property appraiser's websites. Click here for county property appraiser contact and website information. Some county sites have quick and easy online applications. If filing for the first time, be prepared to answer these questions:
â—¦Whose name or names were recorded on the title on January 1?
â—¦What is the street address of the property?
â—¦Were you living in the dwelling on January 1?
â—¦Do you claim homestead in another county or state?
For more information, go to your local tax office (on line or in person) and they can give you more information. A title company or a realtor can also help you with this information.
Myke Triebold, GRI, ABR, SFR